What Do Economists Mean by the Term "Sticky Wage

question 75

Multiple Choice

What do economists mean by the term "sticky wage"?

• A)It refers to the reluctance by employers to increase nominal wages during an inflationary period.
• B)It refers to a wage that is slow to adjust to its equilibrium level, creating sustained periods of shortage or surplus in the labor market.
• C)It refers to a breakdown in wage negotiations between employers and employee unions.
• D)It refers to a union negotiated wage.

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Definitions:

Constructive Conflict

Conflict that helps build new insights and establishes new patterns in a relationship.

Instrumental Conflict

A disagreement or dispute arising from differences in goals, means, or methods to achieve specific outcomes.

Active Conflict

A situation in which there is a direct and open clash of opposing forces or ideas.

Feeling Entitled

Having or displaying an attitude of having an inherent right to privileges or special treatment without necessarily earning it.